Harvey Pitt Confirmed as SEC Chairman
On Wednesday, the Senate confirmed Harvey Pitt as the next chairman of the Securities and Exchange Commission, replacing previous chairman Arthur Levitt, who left the position in February, and acting chairman Laura S. Unger.
Mr. Pitt is a lawyer who served as general counsel to the SEC from 1975 to 1978. It is expected that the tone of the SEC while Mr. Pitt holds the reigns will be one of less government regulation. In addition, Mr. Pitt has indicated that he expects to review existing securities laws for obsolescence.
Mr. Pitt was nominated by President Bush. There are still two seats on the SEC waiting to be filled by the Bush administration.
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Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.